American Bank

American Bank is a wholly owned subsidiary of American Bank Inc.  They are a nationwide community bank, which means that they serve their Eastern Pennsylvania community as well as the customers they have collected around the nation.  They are headquartered in Allentown, Pennsylvania.  American Bank is a publicly traded company and is FDIC insured.

Loans Funded By American Bank

• Home Equity Loan—A Home Equity Loan allows you to use the equity you have built in your home for other purposes.  Many people use their equity to make home improvements, buy other property, pay for college, and make other similarly large purchases.
• Home Equity Line of Credit—This loan serves the same purpose that a Home Equity Loan does, but the structure of it is different.  While a Home Equity Loan is a lump sum loan that your lender hands over, a Home Equity Loan functions more as a credit card.  You have a set amount that you have access to, and you can draw on it whenever you need it. 
• Fixed Rate Mortgage—The Fixed Rate Mortgage is the most dependable mortgage product on the market.  It comes with consistent monthly payment plan and a mortgage rate that you lock in at the time of closing.  The only disadvantage is that the market interest rate may dip to a much lower figure.  The good news is that you can always refinance your mortgage to take advantage of lower rates. 
• Balloon Mortgage—A Balloon Mortgage is one of the most unique mortgage products.  It has a very short lifetime of five or seven years.  You pay regular monthly payments for those few years, and then pay off the mortgage in one lump sum.
• New Construction Loan—This loan aids borrowers in financing the construction of their home. 
• Adjustable Rate Mortgage—An Adjustable Rate Mortgage has an interest rate that adjusts according to the market.

More About American Bank

American Bank was recently ranked #1 in a customer service survey done by CBS Market Watch.  Six online banks were surveyed, and American Bank was awarded for responding to emailed questions in a timely manner, answering the phone promptly, and being knowledgeable about the bank’s procedures.  They were the only bank surveyed who did not have an automated telephone service. 

American Bank was also recently commended by Buffalo News.  They were surveyed as the best choice for a checking account.  Both online and brick-and-mortar banks were surveyed.

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